Finally, Xbox Live Rewards is making its way over here to sunny Singapore.

Microsoft today announced that Singapore is the first country in Asia – and the tenth worldwide – to launch the Xbox Live Rewards loyalty program, which awards Microsoft Point (the online currency on Xbox Live; 100 MS Points is equivalent to S$2.20) and other goodies to members for partaking in certain activities on the platform.

These activities include renewing one’s Gold membership subscription, buying games and other content from the Xbox Live Marketplace, providing feedback, participating in special offers, and referring a friend to join Xbox Live.

To kick things off, the first 10,000 Xbox Live members who sign up for the program over will receive a free month of Gold membership.

A quick look at the Rewards FAQs page also reveals that members will earn 200 MS Points for renewing their Xbox Live Gold subscription, 100 MS Points for every friend referral that’s converted to a Gold membership account for at least 30 days (friends whom you refer to sign up for Gold membership will also net 400 MS Points themselves), and 20 points for participating in surveys.

The Rewards program is open to both Xbox Live Gold (paid level of service) and Silver (free tier) members. However, certain rewards may require Gold membership.

Loyalty rewards for the Rewards program offered in other countries so far have included movie tickets, Xbox accessories, LED TVs, and – in a tie-up with Activision – a 2012 Call of Duty®: Modern Warfare® 3 Limited Edition Jeep Wrangler.

“This is just the beginning of several exciting developments we’re bringing to our fans this year on Xbox Live,” said Ian Tan, Marketing Manager for the Interactive Entertainment Business in Singapore.

“Whether you are a core gamer or casual Kinect user, Xbox Live completes your console experience with an incredibly rich library of online content,” he added.